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Place:
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| | |
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Date:
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| | |
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| |
Time:
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| Valmont Industries, Inc. Headquarters 15000 Valmont Plaza Omaha, Nebraska 68154-5215 |
| | | April 24, 2023 | | | | 10:00 a.m. Central Daylight Time |
|
|
1
|
| | |
Electing three directors of the Company to three-year terms;
|
|
|
2
|
| | |
Advisory approval of the Company’s executive compensation;
|
|
|
3
|
| | |
Advisory vote on the frequency of executive compensation votes;
|
|
|
4
|
| | |
Ratifying the appointment of Deloitte & Touche LLP as independent auditors for fiscal 2023; and
|
|
|
5
|
| | |
Consider and act upon such other business that may properly come before the meeting.
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|
|
| |
Where
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| | |
|
| |
When
|
| | |
|
| |
Time
|
|
| Valmont Headquarters, Omaha, Nebraska |
| | | Monday, April 24, 2023 | | | | at 10:00 a.m. Central Daylight Time |
|
|
Voting Matters
|
| |
Board Recommendation
|
| |
Page
|
|
|
Election of Three Director Nominees
|
| |
FOR
|
| |
4
|
|
|
Advisory Vote on Executive Compensation
|
| |
FOR
|
| |
39
|
|
|
Advisory Vote on the Frequency of Executive Compensation Votes
|
| |
1 YEAR
|
| |
41
|
|
|
Ratification of Appointment of Independent Auditors
|
| |
FOR
|
| |
43
|
|
|
Name and Address of Beneficial Owner
|
| |
Amount and Nature of
Beneficial Ownership February 27, 2023(1) |
| |
Percent of
Class(2) |
| ||||||
|
The Vanguard Group(3)
100 Vanguard Boulevard Malvern, PA 19355 |
| | | | 2,153,702 | | | | | | 10.1% | | |
|
BlackRock, Inc.(4)
55 East 52nd Street New York, NY 10055 |
| | | | 2,049,786 | | | | | | 9.6% | | |
|
Invesco Ltd.(5)
1555 Peachtree Street NE, Suite 1800 Atlanta, GA 30309 |
| | | | 1,194,539 | | | | | | 5.6% | | |
|
Neuberger Berman Group LLC
1290 Avenue of the Americas New York, NY 10104 |
| | | | 1,087,087 | | | | | | 5.1% | | |
| Mogens C. Bay(6) | | | | | 195,664 | | | | | | 1.0% | | |
| Kaj den Daas | | | | | 8,955 | | | | | | | | |
| Clark T. Randt, Jr. | | | | | 8,346 | | | | | | | | |
| Daniel P. Neary | | | | | 22,851 | | | | | | | | |
| James B. Milliken | | | | | 6,916 | | | | | | | | |
| Catherine James Paglia | | | | | 8,850 | | | | | | | | |
| Theo W. Freye | | | | | 5,817 | | | | | | | | |
| Richard A. Lanoha | | | | | 1,690 | | | | | | | | |
| Ritu Favre | | | | | 1,085 | | | | | | | | |
| Joan Robinson-Berry | | | | | 1,117 | | | | | | | | |
| Stephen G. Kaniewski | | | | | 85,016 | | | | | | | | |
| Avner M. Applbaum | | | | | 11,120 | | | | | | | | |
| Aaron M. Schapper | | | | | 14,747 | | | | | | | | |
| Diane M. Larkin | | | | | 5,521 | | | | | | | | |
| T. Mitchell Parnell | | | | | 7,968 | | | | | | | | |
| All Executive Officers and Directors as Group (21 persons) | | | | | 430,363 | | | | | | 2.0% | | |
| | | |
Shares
|
| |||
| Mr. Kaniewski | | | | | 27,660 | | |
| Mr. Applbaum | | | | | 4,944 | | |
| Mr. Schapper | | | | | 5,563 | | |
| Ms. Larkin | | | | | 2,399 | | |
| Mr. Parnell | | | | | 4,095 | | |
| All Executive Officers and Directors as a Group (21 persons) | | | | | 63,491 | | |
| Director Since October 1993 | |
| Chairman of the Board | |
| Director Since September 2020 | |
|
Board Committees
ESG Committee (Chair)
Governance and Nominating Committee |
|
| Director Since October 2019 | |
|
Board Committees
Human Resources Committee
|
|
| Director Since October 2004 | |
|
Board Committees
Audit Committee (Chair)
Governance and Nominating Committee ESG Committee |
|
| Director Since December 2011 | |
|
Board Committees
Governance and Nominating Committee (Chair)
Audit Committee ESG Committee |
|
| Director Since February 2012 | |
|
Board Committees
Lead Director
Human Resources Committee Audit Committee |
|
| Director Since December 2005 | |
|
Board Committees
Human Resource Committee (Chair)
Audit Committee ESG Committee |
|
| Director Since June 2015 | |
|
Board Committees
Governance and Nominating Committee
ESG Committee |
|
| Director Since January 2018 | |
| Director Since September 2020 | |
|
Board Committees
Human Resources Committee
|
|
| | | | |
Male
|
| | |
Female
|
|
| Gender | | | |
■ ■ ■ ■ ■ ■ ■
|
| | |
■ ■ ■
|
|
| African American Directors | | | | | | | |
■
|
|
| Asian Directors | | | | | | | |
■
|
|
|
Directors with Non-U.S. or Dual Citizenship
|
| | |
■ ■ ■
|
| | |
■
|
|
| Independent Directors | | | |
■ ■ ■ ■ ■ ■
|
| | |
■ ■ ■
|
|
|
Directors joining Board since January 2018
|
| | |
■ ■
|
| | |
■ ■
|
|
| Board leadership experience | | | |
■ ■ ■ ■ ■ ■ ■ ■ ■ ■
|
|
| Industrial / manufacturing experience | | | |
■ ■ ■ ■ ■ ■ ■
|
|
| Finance experience | | | |
■ ■ ■ ■
|
|
| International experience | | | |
■ ■ ■ ■ ■ ■ ■
|
|
|
Corporate governance and oversight background
|
| | |
■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■
|
|
| Engineering experience | | | |
■ ■ ■ ■
|
|
| Operations experience | | | |
■ ■ ■ ■ ■ ■ ■ ■ ■ ■
|
|
| Information technology experience | | | |
■ ■ ■
|
|
| Technology / R&D Experience | | | |
■ ■ ■ ■ ■ ■ ■ ■
|
|
| Acuity Brands | | | Crane Co. | | | Qorvo | |
| Arcosa | | | First Solar | | | Regal Rexnord | |
| Barnes Group | | | FlowServe Corporation | | | SPX Corporation | |
| Belden | | | Harsco Corporation | | | Toro Company | |
| Carlisle Companies | | | Hubbell | | | Watts Water Technologies | |
| Enovis | | | Pentair | | | Zurn Elkay Water | |
|
Mr. Kaniewski
|
| | | | 110% | | |
|
Mr. Applbaum
|
| | | | 75% | | |
|
Mr. Schapper
|
| | | | 80% | | |
|
Ms. Larkin
|
| | | | 60% | | |
|
Mr. Parnell
|
| | | | 60% | | |
| | | |
Threshold
(0.5x target) |
| |
Target
(1x target) |
| |
Stretch
(1.5x target) |
| |
Maximum
(2x target) |
|
|
2022
|
| |
$200.0 million
|
| |
$250.0 million
|
| |
$272.2 million
|
| |
$300.0 million
|
|
| | | |
Threshold
(0.5x target) |
| |
Target
(1x target) |
| |
Stretch
(1.5x target) |
| |
Maximum
(2x target) |
|
|
2022
|
| |
$2,975 million
|
| |
$3,500 million
|
| |
$3,800 million
|
| |
$4,025 million
|
|
| | | |
Threshold
(0.5x target) |
| |
Target
(1x target) |
| |
Stretch
(1.5x target) |
| |
Maximum
(2x target) |
|
|
2022
|
| |
$262.4 million
|
| |
$328.0 million
|
| |
$356.3 million
|
| |
$393.6 million
|
|
|
Mr. Kaniewski
|
| | | $ | 2,468,447 | | |
|
Mr. Applbaum
|
| | | | 1,000,572 | | |
|
Mr. Schapper
|
| | | | 943,024 | | |
|
Ms. Larkin
|
| | | | 522,850 | | |
|
Mr. Parnell
|
| | | | 511,510 | | |
| 2021 | | | | | 200.0% | | |
| 2020 | | | | | 159.4% | | |
| 2019 | | | | | 57.7% | | |
| 2018 | | | | | 49.8% | | |
| 2017 | | | | | 89.8% | | |
| 2016 | | | | | 67.0% | | |
| | | |
OIG
(40% Weight) |
| |
ROIC
(60% Weight) |
| |
Cumulative Payout
as % of Target |
|
|
Maximum
|
| |
20%
|
| |
11.5%
|
| |
200%
|
|
|
Target
|
| |
10%
|
| |
10.0%
|
| |
100%
|
|
|
Threshold
|
| |
1%
|
| |
8.5%
|
| |
55%
|
|
|
Below Threshold
|
| |
Below 1%
|
| |
Below 8.5%
|
| |
0%
|
|
| | | |
Percentage
of Salary |
| |||
|
Mr. Kaniewski
|
| | | | 175% | | |
|
Mr. Schapper
|
| | | | 85% | | |
|
Mr. Applbaum (prorated to March 2020 hire date)
|
| | | | 80% | | |
|
Ms. Larkin (prorated to June 2020 hire date)
|
| | | | 60% | | |
|
Mr. Parnell
|
| | | | 60% | | |
|
Mr. Kaniewski
|
| |
22,471 shares
|
|
|
Mr. Schapper
|
| |
6,412 shares
|
|
|
Mr. Applbaum
|
| |
5,002 shares
|
|
|
Ms. Larkin
|
| |
2,612 shares
|
|
|
Mr. Parnell
|
| |
2,783 shares
|
|
| 2021 | | | | | 88.6% | | |
| 2020 | | | | | 0% | | |
| 2019 | | | | | 65.8% | | |
| 2018 | | | | | 114.3% | | |
| 2017 | | | | | 0% | | |
| 2016 | | | | | 0% | | |
| | | |
Percentage of
Base Salary |
| |||
|
Mr. Kaniewski
|
| | | | 237.5% | | |
|
Mr. Schapper
|
| | | | 90% | | |
|
Mr. Applbaum
|
| | | | 90% | | |
|
Ms. Larkin
|
| | | | 60% | | |
|
Mr. Parnell
|
| | | | 60% | | |
| | | |
Stock Options
|
| |
Restricted
Stock Units |
| ||||||
|
Mr. Kaniewski
|
| | | | 14,710 | | | | | | 4,015 | | |
|
Mr. Applbaum
|
| | | | 3,314 | | | | | | 904 | | |
|
Mr. Schapper
|
| | | | 3,587 | | | | | | 979 | | |
|
Ms. Larkin
|
| | | | 1,443 | | | | | | 393 | | |
|
Mr. Parnell
|
| | | | 1,425 | | | | | | 389 | | |
| | | |
Year
|
| |
Salary
($) |
| |
Bonus
($) |
| |
Stock
awards ($)(1) |
| |
Option
awards ($)(2) |
| |
Non-equity incentive
plan compensation ($) |
| |
All other
compensation ($)(3) |
| |
Total
($) |
| ||||||||||||||||||||||||
|
Stephen G. Kaniewski
President and Chief Executive Officer |
| | |
|
2022
|
| | | |
|
1,081,571
|
| | | |
|
0
|
| | | |
|
3,498,650
|
| | | |
|
1,529,987
|
| | | |
|
2,468,447
|
| | | |
|
95,605
|
| | | |
|
8,674,260
|
| |
| |
|
2021
|
| | | |
|
1,030,000
|
| | | |
|
0
|
| | | |
|
2,883,858
|
| | | |
|
1,042,664
|
| | | |
|
2,266,147
|
| | | |
|
115,306
|
| | | |
|
7,337,975
|
| | |||
| |
|
2020
|
| | | |
|
978,500
|
| | | |
|
0
|
| | | |
|
2,742,393
|
| | | |
|
1,029,302
|
| | | |
|
1,667,266
|
| | | |
|
14,625
|
| | | |
|
6,432,086
|
| | |||
|
Avner M. Applbaum(4)
Executive Vice President and Chief Financial Officer |
| | |
|
2022
|
| | | |
|
643,000
|
| | | |
|
0
|
| | | |
|
879,398
|
| | | |
|
344,689
|
| | | |
|
1,000,572
|
| | | |
|
74,188
|
| | | |
|
2,941,847
|
| |
| |
|
2021
|
| | | |
|
535,600
|
| | | |
|
0
|
| | | |
|
771,346
|
| | | |
|
278,912
|
| | | |
|
803,400
|
| | | |
|
69,351
|
| | | |
|
2,458,609
|
| | |||
| |
|
2020
|
| | | |
|
360,000
|
| | | |
|
200,000
|
| | | |
|
964,921
|
| | | |
|
240,870
|
| | | |
|
453,083
|
| | | |
|
397,620
|
| | | |
|
2,616,494
|
| | |||
|
Aaron M. Schapper
Group President, Infrastructure |
| | |
|
2022
|
| | | |
|
696,000
|
| | | |
|
0
|
| | | |
|
952,045
|
| | | |
|
373,083
|
| | | |
|
943,024
|
| | | |
|
56,819
|
| | | |
|
3,020,972
|
| |
| |
|
2021
|
| | | |
|
592,250
|
| | | |
|
0
|
| | | |
|
846,103
|
| | | |
|
301,924
|
| | | |
|
775,137
|
| | | |
|
14,625
|
| | | |
|
2,530,039
|
| | |||
| |
|
2020
|
| | | |
|
575,000
|
| | | |
|
0
|
| | | |
|
755,285
|
| | | |
|
266,344
|
| | | |
|
675,280
|
| | | |
|
14,625
|
| | | |
|
2,286,534
|
| | |||
|
Diane M. Larkin(4)
Executive Vice President Global Operations |
| | |
|
2022
|
| | | |
|
420,000
|
| | | |
|
0
|
| | | |
|
424,724
|
| | | |
|
150,086
|
| | | |
|
552,850
|
| | | |
|
64,355
|
| | | |
|
1,582,015
|
| |
| |
|
2021
|
| | | |
|
400,000
|
| | | |
|
0
|
| | | |
|
405,939
|
| | | |
|
121,440
|
| | | |
|
480,000
|
| | | |
|
25,673
|
| | | |
|
1,433,052
|
| | |||
| |
|
2020
|
| | | |
|
192,308
|
| | | |
|
0
|
| | | |
|
523,086
|
| | | |
|
121,731
|
| | | |
|
185,880
|
| | | |
|
193,329
|
| | | |
|
1,216,334
|
| | |||
|
T. Mitchell Parnell
Executive Vice President Human Resources |
| | |
|
2022
|
| | | |
|
410,891
|
| | | |
|
0
|
| | | |
|
375,928
|
| | | |
|
148,214
|
| | | |
|
511,510
|
| | | |
|
41,815
|
| | | |
|
1,488,358
|
| |
| |
|
2021
|
| | | |
|
384,010
|
| | | |
|
0
|
| | | |
|
353,563
|
| | | |
|
118,810
|
| | | |
|
460,812
|
| | | |
|
37,409
|
| | | |
|
1,354,604
|
| | |||
| |
|
2020
|
| | | |
|
353,600
|
| | | |
|
0
|
| | | |
|
327,282
|
| | | |
|
115,135
|
| | | |
|
246,477
|
| | | |
|
34,623
|
| | | |
|
1,077,117
|
| |
| | | |
Grant
Date |
| |
Estimated Future Payouts
Under Non-Equity Incentive Plan Awards ($)(1) |
| |
Estimated Future Payouts
Under Equity Incentive Plan Awards (# of shares)(1) |
| |
All Other
Stock Awards: Number of Shares of Stock or Units (#)(1) |
| |
All Other
Option Awards: Number of Securities Underlying Options (#) |
| |
Exercise or
Base Price of Option Awards ($/share) |
| |
Grant Date
Fair Value of Stock and Option Award ($)(2) |
| |||||||||||||||||||||||||||||||||||||||||||||
|
Name
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| ||||||||||||||||||||||||||||||||||||||||||||||||
|
Stephen G. Kaniewski
|
| | | | 02/21/2022 | | | | | | 0 | | | | | | 1,243,806 | | | | | | 2,487,612 | | | | | | 4,348 | | | | | | 8,696 | | | | | | 17,392 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 12/12/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,015 | | | | | | 14,710 | | | | | $ | 332.63 | | | | | | 2,865,349 | | | |||
|
Avner M. Applbaum
|
| | | | 02/21/2022 | | | | | | 0 | | | | | | 514,400 | | | | | | 1,028,800 | | | | | | 1,181 | | | | | | 2,326 | | | | | | 4,652 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 12/12/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 904 | | | | | | 3,314 | | | | | $ | 332.63 | | | | | | 645,354 | | | |||
|
Aaron M. Schapper
|
| | | | 02/21/2022 | | | | | | 0 | | | | | | 503,413 | | | | | | 1,006,826 | | | | | | 1,259 | | | | | | 2,518 | | | | | | 5,036 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 12/12/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 979 | | | | | | 3,587 | | | | | $ | 332.63 | | | | | | 698,693 | | | |||
|
Diane M. Larkin
|
| | | | 02/21/2022 | | | | | | 0 | | | | | | 273,000 | | | | | | 546,000 | | | | | | 591 | | | | | | 1,181 | | | | | | 2,362 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 12/12/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 393 | | | | | | 1,443 | | | | | $ | 332.63 | | | | | | 280,796 | | | |||
|
T. Mitchell Parnell
|
| | | | 02/21/2022 | | | | | | 0 | | | | | | 267,079 | | | | | | 534,158 | | | | | | 496 | | | | | | 991 | | | | | | 1,982 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 12/12/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 389 | | | | | | 1,425 | | | | | $ | 332.63 | | | | | | 277,593 | | |
|
Name
|
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable(1) |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable(1) |
| |
Equity
Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#)(2) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($)(3) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(4) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(5) |
| |||||||||||||||||||||||||||
|
Stephen G. Kaniewski
|
| | | | 7,290 | | | | | | 0 | | | | | | 0 | | | | | | 147.31 | | | | | | 12/16/2026 | | | | | | 8,900 | | | | | | 2,942,963 | | | | | | 11,827 | | | | | | 3,910,834 | | |
| | | 15,084 | | | | | | 7,543 | | | | | | 0 | | | | | | 168.80 | | | | | | 12/14/2030 | | | | | | | | | | | | | | | | | | 10,805 | | | | | | 3,572,889 | | | |||
| | | 5,286 | | | | | | 10,572 | | | | | | 0 | | | | | | 252.89 | | | | | | 12/13/2031 | | | | | | | | | | | | | | | | | | 8,696 | | | | | | 2,875,506 | | | |||
| | | 0 | | | | | | 14,710 | | | | | | 0 | | | | | | 332.63 | | | | | | 12/12/2032 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
|
Avner M. Applbaum
|
| | | | 3,530 | | | | | | 1,765 | | | | | | 0 | | | | | | 168.80 | | | | | | 12/14/2030 | | | | | | 2,470 | | | | | | 816,755 | | | | | | 2,633 | | | | | | 870,654 | | |
| | | 1,414 | | | | | | 2,828 | | | | | | 0 | | | | | | 252.89 | | | | | | 12/13/2031 | | | | | | | | | | | | | | | | | | 2,889 | | | | | | 955,305 | | | |||
| | | 0 | | | | | | 3,314 | | | | | | 0 | | | | | | 332.63 | | | | | | 12/12/2032 | | | | | | | | | | | | | | | | | | 2,326 | | | | | | 769,138 | | | |||
|
Aaron M. Schapper
|
| | | | 0 | | | | | | 5,000 | | | | | | 0 | | | | | | 112.08 | | | | | | 12/17/2025 | | | | | | 2,332 | | | | | | 771,122 | | | | | | 3,375 | | | | | | 1,116,011 | | |
| | | 2,081 | | | | | | 0 | | | | | | 0 | | | | | | 147.31 | | | | | | 12/16/2026 | | | | | | | | | | | | | | | | | | 3,195 | | | | | | 1,056,490 | | | |||
| | | 1,951 | | | | | | 1,951 | | | | | | 0 | | | | | | 168.60 | | | | | | 12/14/2030 | | | | | | | | | | | | | | | | | | 2,518 | | | | | | 832,627 | | | |||
| | | 1,530 | | | | | | 3,062 | | | | | | 0 | | | | | | 252.89 | | | | | | 12/13/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| | | 0 | | | | | | 3,587 | | | | | | 0 | | | | | | 332.63 | | | | | | 12/12/2032 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
|
Diane M. Larkin
|
| | | | 1,784 | | | | | | 892 | | | | | | 0 | | | | | | 168.80 | | | | | | 12/14/2030 | | | | | | 1,191 | | | | | | 393,828 | | | | | | 1,375 | | | | | | 454,671 | | |
| | | 615 | | | | | | 1,232 | | | | | | 0 | | | | | | 252.89 | | | | | | 12/13/2031 | | | | | | | | | | | | | | | | | | 1,678 | | | | | | 554,864 | | | |||
| | | 0 | | | | | | 1,443 | | | | | | 0 | | | | | | 332.63 | | | | | | 12/12/2032 | | | | | | | | | | | | | | | | | | 1,181 | | | | | | 390,521 | | | |||
|
T. Mitchell Parnell
|
| | | | 1,806 | | | | | | 0 | | | | | | 0 | | | | | | 147.31 | | | | | | 12/16/2026 | | | | | | 942 | | | | | | 311,491 | | | | | | 1,465 | | | | | | 484,431 | | |
| | | 1,687 | | | | | | 843 | | | | | | 0 | | | | | | 168.80 | | | | | | 12/14/2030 | | | | | | | | | | | | | | | | | | 1,381 | | | | | | 456,655 | | | |||
| | | 602 | | | | | | 1,205 | | | | | | 0 | | | | | | 252.89 | | | | | | 12/13/2031 | | | | | | | | | | | | | | | | | | 991 | | | | | | 327,693 | | | |||
| | | 0 | | | | | | 1,425 | | | | | | 0 | | | | | | 332.63 | | | | | | 12/12/2032 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||
|
Name
|
| |
Number of Shares
Acquired on Exercise (#) |
| |
Value Realized
on Exercise ($)(1) |
| |
Number of Shares
Acquired on Vesting (#) |
| |
Value Realized
on Vesting ($)(2) |
| ||||||||||||
| Stephen G. Kaniewski | | | | | 67,997 | | | | | | 10,291,535 | | | | | | 7,425 | | | | | | 2,441,395 | | |
| Avner M. Applbaum | | | | | — | | | | | | — | | | | | | 1,183 | | | | | | 363,442 | | |
| Aaron M. Schapper | | | | | 7,139 | | | | | | 1,074,696 | | | | | | 1,491 | | | | | | 492,560 | | |
| Diane M. Larkin | | | | | — | | | | | | — | | | | | | 632 | | | | | | 185,871 | | |
| T. Mitchell Parnell | | | | | — | | | | | | — | | | | | | 629 | | | | | | 207,740 | | |
|
Name
|
| |
Executive
Contributions in Last Fiscal Year ($)(1) |
| |
Registrant
Contributions in Last Fiscal Year ($)(2) |
| |
Aggregate
Earnings in Last Fiscal Year ($) |
| |
Aggregate
Withdrawals/ Distributions ($) |
| |
Aggregate
Balance at Last Fiscal Year End ($)(3)(4) |
| |||||||||||||||
| Stephen G. Kaniewski | | | | | 78,088 | | | | | | 36,729 | | | | | | (44,304) | | | | | | 0 | | | | | | 481,504 | | |
| Avner M. Applbaum | | | | | 98,093 | | | | | | 60,462 | | | | | | (16,597) | | | | | | 0 | | | | | | 175,726 | | |
| Aaron M. Schapper | | | | | 55,958 | | | | | | 43,093 | | | | | | 560 | | | | | | 0 | | | | | | 112,042 | | |
| Diane M. Larkin | | | | | 120,439 | | | | | | 50,630 | | | | | | (8,725) | | | | | | 0 | | | | | | 207,349 | | |
| T. Mitchell Parnell | | | | | 71,491 | | | | | | 28,090 | | | | | | (38,222) | | | | | | 0 | | | | | | 171,258 | | |
|
Name
|
| |
Fees Earned
or paid in Cash ($)(1)(2) |
| |
Stock
Awards ($)(1) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| ||||||||||||
| Mogens Bay | | | | | 210,625 | | | | | | 145,000 | | | | | | 0 | | | | | | 355,625 | | |
| Kaj den Daas | | | | | 113,750 | | | | | | 145,000 | | | | | | 0 | | | | | | 258,750 | | |
| Daniel P. Neary | | | | | 119,375 | | | | | | 145,000 | | | | | | 0 | | | | | | 264,375 | | |
| Clark T. Randt | | | | | 95,000 | | | | | | 145,000 | | | | | | 0 | | | | | | 240,000 | | |
| James B. Milliken | | | | | 119,375 | | | | | | 145,000 | | | | | | 0 | | | | | | 264,375 | | |
| Catherine J. Paglia | | | | | 134,375 | | | | | | 145,000 | | | | | | 0 | | | | | | 279,375 | | |
| Theo W. Freye | | | | | 95,000 | | | | | | 145,000 | | | | | | 0 | | | | | | 240,000 | | |
| Richard A. Lanoha | | | | | 95,000 | | | | | | 145,000 | | | | | | 0 | | | | | | 240,000 | | |
| Ritu Favre | | | | | 110,000 | | | | | | 145,000 | | | | | | 0 | | | | | | 255,000 | | |
| Joan Robinson-Berry | | | | | 95,000 | | | | | | 145,000 | | | | | | 0 | | | | | | 240,000 | | |
|
Name
|
| |
Restricted
Stock Units |
| |||
| Mogens Bay | | | | | 568 | | |
| Kaj den Daas | | | | | 568 | | |
| Daniel P. Neary | | | | | 568 | | |
| Clark T. Randt | | | | | 568 | | |
| James B. Milliken | | | | | 568 | | |
| Catherine J. Paglia | | | | | 568 | | |
| Theo W. Freye | | | | | 568 | | |
| Richard A. Lanoha | | | | | 568 | | |
| Ritu Favre | | | | | 568 | | |
| Joan Robinson-Berry | | | | | 568 | | |
| | | |
Number of securities
to be issued upon exercise of outstanding options, warrants and rights (a)(1) |
| |
Weighted-average
exercise price of outstanding options, warrants and rights (b)(2) |
| |
Number of securities
remaining available for future issuance under equity compensation (including securities plans reflected in column (a)) (c) |
| |||||||||
| Equity compensation plans approved by security holders | | | | | 558,440 | | | | | $ | 214.62 | | | | | | 1,722,643 | | |
| Equity compensation plans not approved by security holders | | | | | 0 | | | | | | | | | | | | 0 | | |
| Total | | | | | 558,440 | | | | | | | | | | | | 1,722,643 | | |
| | | |
Unvested Options
|
| |
Unvested
Restricted Stock |
| ||||||
|
Stephen G. Kaniewski
|
| | | $ | 2,043,275 | | | | | $ | 2,942,963 | | |
|
Avner M. Applbaum
|
| | | $ | 505,663 | | | | | $ | 816,755 | | |
|
Aaron M. Schapper
|
| | | $ | 1,647,082 | | | | | $ | 771,122 | | |
|
Diane M. Larkin
|
| | | $ | 240,213 | | | | | $ | 393,828 | | |
|
T. Mitchell Parnell
|
| | | $ | 230,343 | | | | | $ | 311,491 | | |
|
Stephen G. Kaniewski
|
| | | $ | 7,278,262 | | |
|
Avner M. Applbaum
|
| | | $ | 1,763,903 | | |
|
Aaron M. Schapper
|
| | | $ | 2,097,880 | | |
|
Diane M. Larkin
|
| | | $ | 831,745 | | |
|
T. Mitchell Parnell
|
| | | $ | 898,100 | | |
| Year | | | Summary Compensation Table Total for CEO($)(1) | | | Compensation Actually Paid to CEO($)(1)(2) | | | Average Summary Compensation Table Total for Non-CEO NEOs($)(1) | | | Average Compensation Actually Paid to Non-CEO NEOs($)(1)(3) | | | Value of Initial Fixed $100 Investment Based On: | | | Net Income (GAAP)($) | | | | | |||||||||||||||||||||||||||
| Company TSR ($) | | | Peer Group Index TSR ($)(4) | | |||||||||||||||||||||||||||||||||||||||||||||
| 2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Fiscal Year | | | Deduction of the Amounts of Equity Awards Reported in SCT for Fiscal Year | | | Addition of Fair Value of Outstanding and Unvested Equity Awards Granted During the Fiscal Year as of the End of the Fiscal Year | | | Change in Fair Value From Prior Fiscal Year of Outstanding and Unvested Equity Awards Granted in Any Prior Fiscal Year as of the End of the Fiscal Year | | | Change in Fair Value as of the Vesting Date from the Prior Fiscal Year of Equity Awards Vesting in the Fiscal Year | | | Fair Value of Equity Awards as of the Prior Fiscal Year of Awards that Failed Vesting Conditions in Fiscal Year | | |||||||||||||||||||||
| Stock Awards | | | Options | | |||||||||||||||||||||||||||||||||
| 2022 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||||
| 2021 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||||
| 2020 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | |
| Fiscal Year | | | Deduction of the Amounts of Equity Awards Reported in SCT for Fiscal Year | | | Addition of Fair Value of Outstanding and Unvested Equity Awards Granted During the Fiscal Year as of the End of the Fiscal Year | | | Change in Fair Value From Prior Fiscal Year of Outstanding and Unvested Equity Awards Granted in Any Prior Fiscal Year as of the End of the Fiscal Year | | | Change in Fair Value as of the Vesting Date from the Prior Fiscal Year of Equity Awards Vesting in the Fiscal Year | | | Fair Value of Equity Awards as of the Prior Fiscal Year of Awards that Failed Vesting Conditions in Fiscal Year | | |||||||||||||||||||||
| Stock Awards | | | Options | | |||||||||||||||||||||||||||||||||
| 2022 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||||
| 2021 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||||
| 2020 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | |
| Dollars in Thousands | | | 2022 | | | 2021 | | | 2020 | | |||||||||
| Operating Income | | | | $ | | | | | $ | | | | | $ | | | |||
| Adjusted effective tax rate | | | | | | | | | | | | | | | | | |||
| Tax effect on operating income | | | | | ( | | | | | | ( | | | | | | ( | | |
| | | | | | | | | | | | | | | | | | | | |
| After-tax operating income | | | | $ | | | | | $ | | | | | $ | | | |||
| | | | | | | | | | | | | | | | | | | | |
| Average invested capital | | | | $ | | | | | $ | | | | | $ | | | |||
| | | | | | | | | | | | | | | | | | | | |
| Return on invested capital | | | | | | | | | | | | | | | | | |||
| Total Assets | | | | $ | | | | | $ | | | | | $ | | | |||
| Less: Accounts payable | | | | | ( | | | | | | ( | | | | | | ( | | |
| Less: Accrued expenses | | | | | ( | | | | | | ( | | | | | | ( | | |
| Less: Income Tax payable | | | | | ( | | | | | | — | | | | | | — | | |
| Less: Defined benefit pension asset | | | | | ( | | | | | | — | | | | | | — | | |
| Less: Defined benefit pension liability | | | | | | | | | | | ( | | | | | | ( | | |
| Less: Deferred compensation | | | | | ( | | | | | | ( | | | | | | ( | | |
| Less: Other noncurrent liabilities | | | | | ( | | | | | | ( | | | | | | ( | | |
| Less: Dividends payable | | | | | ( | | | | | | ( | | | | | | ( | | |
| Less: Lease liability | | | | | ( | | | | | | ( | | | | | | ( | | |
| Less: Contract liability | | | | | ( | | | | | | ( | | | | | | ( | | |
| Less: Deferred tax liability | | | | | ( | | | | | | ( | | | | | | ( | | |
| | | | | | | | | | | | | | | | | | | | |
| Total invested capital | | | | $ | | | | | $ | | | | | $ | | | |||
| | | | | | | | | | | | | | | | | | | | |
| Beginning of year invested capital | | | | $ | | | | | $ | | | | | $ | | | |||
| | | | | | | | | | | | | | | | | | | | |
| Average invested capital | | | | $ | | | | | $ | | | | | $ | | | |||
| | | | | | | | | | | | | | | | | | | | |
| 2021 | | | | | 200.0% | | |
| 2020 | | | | | 159.4% | | |
| 2019 | | | | | 57.7% | | |
| 2018 | | | | | 49.8% | | |
| 2017 | | | | | 89.8% | | |
| 2016 | | | | | 67.0% | | |
| 2021 | | | | | 88.6% | | |
| 2020 | | | | | 0% | | |
| 2019 | | | | | 65.8% | | |
| 2018 | | | | | 114.3% | | |
| 2017 | | | | | 0% | | |
| 2016 | | | | | 0% | | |
| | | |
2022
|
| |
2021
|
| ||||||
| Audit Fees | | | | $ | 2,686,801 | | | | | $ | 2,465,798 | | |
| Audit-Related Fees | | | | $ | 431,800 | | | | | $ | 657,547 | | |
| Tax Fees | | | | $ | 133,533 | | | | | $ | 130,356 | | |
| Other Fees | | | | $ | 1,895 | | | | | $ | 2,000 | | |
| Total Fees | | | | $ | 3,254,030 | | | | | $ | 3,255,701 | | |